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srilawsby aturio
As enacted
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Part III · Petroleum Resources Agreement, Exploration Blocks and Development Licences

18. Unit Development

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

Where a portion of a reservoir of petroleum resources is situated in another exploration block over which another Contractor has an interest and the entire reservoir of petroleum resources can together with such portion ; be move efficiently developed on a commercial basis, the PRDC may, for securing the more effective exploration or recovery of petroleum resources from such reservoir, by notice in writing to such other Contractor, require him to enter into an Unit

Development Agreement with such other parties for the joint development of the reservoir of petroleum resources.

(2)

Where —

(a)

two or more contractors enter into an Unit

Development Agreement, with the approval of the

PRDC, to conduct joint petroleum operations; or

(b)

it is a condition of the Development License issued to each of such Contractors, that they conduct joint petroleum operations in respect of a common petroleum reservoir situated within the boundaries of their several exploration blocks or the areas covered by their several Development Licenses, the PRDC may direct such Contractors to participate in Unit

Development of such reservoir.

Read on from s 19

Part IV

Functions of the Secretariat

Read on from Part IV

Part V

Fiscal Provisions

Read on from Part V

Part VI

General

Read on from Part VI